Finance
Something that holds value.
What is money?
A group or organization engaged in commercial, industrial or professional activities.
What is a business?
A mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
What are taxes?
The exchange of goods, services, and capital across national borders, serving as a cornerstone of the global economy.
Double points
What is international trade?
Periods—typically multiple years—when stock prices generally rise in the long term.
What is a bull market?
A loan used to purchase or maintain a home, plot of land, or other real estate.
What is a mortgage?
The process of planning, organizing, directing, and controlling the activities of a business or organization to achieve its goals and objectives.
Double points
What is business management?
A tax imposed on individuals or taxpayers in respect of the income or profits earned by them (commonly called taxable income).
What is income tax?
When a country's exports (selling) exceed their imports (buying).
Double points
What is a trade surplus?
Defined by a prolonged drop in investment prices — generally happens when a broad market index falls by 20% or more from its most recent high.
What is a bear market?
A financial contract that protects against potential losses.
What is insurance?
The official process of establishing a business entity with the relevant government authorities, essentially giving the business legal recognition to operate within a specific legal area.
What is business registration?
Taxes levied by federal, state, and sometimes local governments on the net income (profits) of corporations.
Double points
What are corporate taxes?
The worldwide system of exchanging goods, services, and labor across national borders, driven by factors like supply and demand, technological innovation, and trade policies.
What is the global market?
A digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
What is cryptocurrency?
Name the four investing strategies.
Double points
Value, growth, income, and index investing
Name the three types of corporations/companies.
Double points
S Corporation, C Corporation, and Limited Liability Company.
Name the four levels of income tax.
Quadruple points
Payroll or Self-employment tax, city income tax, state income tax, and federal income tax.
Name five positives and/or negatives of tariffs.
Quadruple points
Pros: Support domestic industries, strengthen supply chains, reduces trade deficits, and strengthens national security.
Cons: Higher consumer prices, harm to other domestic industries, risk of retaliation, and complexity and uncertainty
A payment card, usually issued by a bank, that allows users to make purchases or withdraw cash on credit.
What is a credit card?
Name the six types of mortgages.
Triple points
Fixed-rate, adjustable-rate, balloon, second, condo, and jumbo mortgage.
Name the four Ps of Marketing.
Triple points
Product, Place, Promotion, and Price.
What is the difference between tax evasion and tax avoidance.
Double points
Tax evasion is illegal. Tax avoidance is legal.
Name the three laws that gives the President power to impose tariffs.
Bonus 1000 points if you can name the section of one law, and bonus 2000 points if you can name the section(s) of all laws
Trade Expansion Act of 1962
Trade Act of 1974
International Emergency Economic Powers Act of 1977
Name three differences between credit cards and debit cards.
Quadruple points
Differences: (1)When using a credit card you're using the bank's money, while when you use a debit card, you're using your own money. (2)Credit cards have more rewards than debit cards. (3)Most credit card companies provide zero liability for cardholders that experience fraudulent purchases, while some debit card companies may hold you accountable.